Trump's campaign nearly went broke for the 2020 homestretch, insiders say

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Trump's campaign nearly went broke for the 2020 homestretch, insiders say
US President Donald Trump looks on as he departs a rally at Toledo Express Airport in Swanton, Ohio on September 21, 2020.MANDEL NGAN/AFP via Getty Images

Hello everyone! Welcome to this weekly roundup of Business Insider stories from co-Editor in Chief Matt Turner. Subscribe here to get this newsletter in your inbox every Sunday.

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Read on for the inside story on the Trump campaign's finances, Anand Giridharadas lambasting corporate board members, and a new threat to the management consulting industry.

Hello

The US election, now just a few weeks away, continues to dominate the news cycle. Here's what's trending on Insider right now:

There was big news in New York politics this week as Citigroup's vice chairman Raymond McGuire resigned to announce his candidacy for New York City mayor. Dakin Campbell spoke to those close to McGuire, along with political strategists, to get the inside story on McGuire's decision to run, and the biggest challenges he'll face. You can read that story in full here:

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Trump's campaign nearly went broke for the 2020 homestretch

From Tom LoBianco:

Before his demotion this summer as President Donald Trump's campaign manager, Brad Parscale had planned for a stunning amount of money to arrive during the 2020 homestretch that would have covered equally shocking spending but left the reelection effort dead broke by the start of October, three Republicans close to the president's campaign told Insider.

Parscale had been banking on campaign donations to miraculously double in October by about $200 million more than other recent months, one Republican close to the president said. The Republican said Trump's new campaign team, led by Bill Stepien, had to rush to cancel the spending approved by Parscale to salvage the president's bid for a second term.

But money has been tight since then, leaving no less than the president himself to attempt to beat back stories that his campaign is on the rocks and float the idea, again, that he would open up his own checkbook to keep it running.

Read the full story here:

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Anand Giridharadas lambasts corporate board members

Trump's campaign nearly went broke for the 2020 homestretch, insiders say
Virginia Heffernan (L) and Anand Giridharadas speak onstage at WIRED25 Festival: WIRED Celebrates 25th Anniversary – Day 2 on October 14, 2018 in San Francisco, California.Matt Winkelmeyer/Getty Images

From Kate Taylor:

When Anand Giridharadas was invited to speak at the National Association of Corporate Directors' annual summit, the writer — known for his sharp critiques of billionaires and the global elite — did not hold back.

"A lot of your children and grandchildren do not respect your work," Giridharadas said on Monday to more than 3,000 directors watching the summit virtually, according to audio obtained by Business Insider.

Giridharadas slammed directors for their lack of action, portraying businesses as making empty promises while simultaneously dodging responsibility.

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"This being a group of corporate directors, I ask again, where were you?" Giridharadas said in his remarks. "Where were you in the run-up to the climate crisis? Where were you during widening inequality over the last four decades? Where were you in the run-up to the subprime crisis? Where were you in the run up to the opioid crisis? Where were you?"

The aggressive remarks shocked many of the hundreds of people virtually attending the summit, which is billed as the "the largest and most influential director forum in the world."

Read the story in full here:

Tech is coming to eat the $200 billion management-consulting industry

Trump's campaign nearly went broke for the 2020 homestretch, insiders say
Samantha Lee/Business Insider

From Samantha Stokes:

For decades, prestigious management-consulting firms like McKinsey, Bain, and BCG — collectively known as the Big 3 — have been an important part of the business world by advising clients and offering strategies for growth.

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But the $200 billion consulting industry is facing a new threat: technology.

When it comes to information, expertise, insight and execution, technology is threatening to disrupt consulting firms' ability to offer services to clients at a high price tag.

Read the full story here:

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An invitation

The year 2020 has delivered surprises and shattered records at every turn — and the November elections could prove to be no different.

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Join Business Insider on Wednesday, October 21 at 2 p.m. ET and hear from three investment experts who will share their advice on how to navigate the election-season peak.

Business Insider's Joe Ciolli will speak with Thomas Lee, managing partner and head of research for Fundstrat Global Advisors; Nancy Davis, founder and managing partner of Quadratic Capital Management; and James McDonald, CEO and chief investment officer of Hercules Investments.

Register here.

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Here are some headlines from the past week you might have missed.

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— Matt

Male employees at a $1.6 billion security-camera startup were accused of taking photos of female employees and sharing them in a private Slack channel

Read the full letter private equity titan Robert F. Smith sent to investors about his $139 million tax evasion settlement

Expedia salaries revealed: These 12 jobs at the $12.7 billion travel giant fetch as much as $267,000 in base pay

AT&T is putting WarnerMedia's huge NYC headquarters under review and could decide to cut hundreds of thousands of square feet of office space

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The co-CEO of $47 billion Atlassian explains why it plans to stop selling its Server product lineup starting in February: 'The cloud is the natural future'

60 employees voluntarily resigned from Coinbase, a successful $8 billion startup. Insiders detail the unrest caused by the CEO's new 'apolitical' policy.

Per-diem attorneys could make $200,000 a year from freelance lawyer gigs. But as work has vanished, they've become Instagram cooks, motivational speakers, and reiki coaches.

Amazon and Bill Gates are backing a unique startup that puts a price tag on trees to win a slice of a market set to reach $200 billion

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